Hi I have selected a house to buy where the current owner purchased it from 5 people who had given their land for development and current owner is also 1 in that 5. Now we have identified an issue that the sale deed bond paper stamp date is later to the execution of sale deed. I know it's a blunder mistake but we asked why it's like that for which the owner is telling that there's is a GPA executed for one of the owner so the sale deed execution date is kept the same. GPA execution date is after the bond paper date only but the issue happened with sale deed bond stamp date as it is later to sale deed execution date. Now, owner is telling that 3 of the previous sellers are ready to attend but only one cannot attend for rectification deed as there was a huge dispute happened between them during the acquisition of property by current owner. Now, with 4 they cannot move ahead with rectification deed, so now the owner is telling that he's ready to give a registered self declaration over this mistake.
My doubt is how far can I trust this self declaration and will there be any issues if I purchase this property?
Or is it risky to buy this property, will there be any issues with the heirs of the previous owners
I have applied loan, invested some amount and 2+ months of time on this property, please suggest me what to do on this.
In response to your query,
Correction deeds are sometimes known as rectification or confirmation deeds. They are written agreements between two parties to correct any mistakes in a previous deed. Typographical mistakes, misspelt names, errors in the property descripttion, and any other problems in the execution of the documents are examples of these errors. These errors can be addressed later with a confirmation deed.
The following are some of the requirements for a Rectification Deed:
It has to be a genuine mistake.
It has to be unintentional, not deliberate.
The rectification must be agreed upon by all parties.
As mentioned above all the parties must agree to a rectification deed but in your case you will be the 3rd party who buys the house after the rectification of the deed so if the two parties involved in the case manage to legally make the change the in the documents then I don't think you will have any trouble and in any other case if the rectification is not successful then I suggest you don't buy the property and look for a different property.
Regards,
Aryan Raj
